28.64
+0.88%
Close of 9 Nov 2026, in USD
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About Heritage Financial
From its filings with the US Securities and Exchange Commission
Heritage Financial is based in Olympia, Washington and is incorporated in Washington. Its shares trade on Nasdaq under the ticker HFWA. The SEC classifies its business as savings institutions, not federally chartered. In the fiscal year to 31 December 2025, it reported net income of $67.5m. At that date it held total assets of $6.97bn and shareholders' equity of $921.5m.
Heritage Financial Corporation is a bank holding company that was incorporated in the State of Washington in August 1997. We are primarily engaged in the business of planning, directing, and coordinating the business activities of our wholly-owned subsidiary and single reportable segment, Heritage Bank.
Heritage Bank is headquartered in Olympia, Washington and conducts business from its 50 branch offices located throughout Washington State, the greater Portland, Oregon area, Eugene, Oregon and Boise, Idaho and its one loan production office in Spokane, Washington as of December 31, 2025. Heritage Bank also does business under the Whidbey Island Bank name on Whidbey Island, Washington. On January 31, 2026, Heritage completed its acquisition of Olympic and Olympic’s wholly-owned banking subsidiary, Kitsap Bank. The acquisition added 16 branch offices to the franchise, doing business under the Kitsap Bank name as a division of Heritage Bank. The deposits of the Bank are insured by the FDIC.
Our business consists primarily of commercial lending and deposit relationships with small and medium-sized businesses and their owners in our market areas and attracting deposits from the general public. We also make real estate construction and land development loans and consumer loans.
Quoted from its 10-K, filed 27 Feb 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Financials
- Industry
- Banks
- Listed since
- 9 Jan 1998
- Employees
- 723
- Head office
- 201 FIFTH AVENUE S.W., OLYMPIA, WA, 98501
- Incorporated in
- WA
- Classification
- Savings Institutions, Not Federally Chartered
- Filer status
- Large accelerated filer
Leadership
Pay as last reported
- Mr. Brian VanceChairman of the Board, since 1996$172,510
- Mr. Bryan McdonaldPresident, Chief Executive Officer, Director, President, Chief Executive Officer and Director of Heritage Bank, since 2014$1.0m
- Mr. Donald HinsonExecutive Vice President and Chief Financial Officer of Heritage Financial Corporation and Heritage Bank$798,685
- Mr. Nicholas BleyExecutive Vice President and Executive Vice President and Chief Operating Officer of Heritage Bank$723,252
- Mr. Tony ChalfantExecutive Vice President and Chief Credit Officer of Heritage Financial Corporation and Heritage Bank$688,391
- Mr. Matthew RayExecutive Vice President and Chief Lending Officer of Heritage Bank$604,909
- Mr. Brian CharneskiLead Independent Director, since 2000$135,010
- Mr. Trevor DryerIndependent Director$100,010
- Ms. Kimberly EllwangerIndependent Director$110,010
- Ms. Gail GiacobbeIndependent Director$100,010
- Mr. Jeffrey LyonIndependent Director$110,010
- Mr. Frederick RiveraIndependent Director$100,010
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 50
- Environment
- 7
- Social
- 76
- Governance
- 67
- Women in the workforce
- 69.94%
- Carbon reduction policy
- No
- Human rights policy
- No
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Strong Financial Performance: Heritage Financial Corp has consistently displayed strong financial performance, with steady revenue growth and consistent profitability.
- Diversified Product Portfolio: The company offers a wide range of financial products and services, including personal banking, commercial banking, and wealth management, which helps mitigate risks and attract a diverse customer base.
- Robust Customer Relationships: Heritage Financial Corp has built strong and long-lasting relationships with its customers, leading to high customer satisfaction and loyalty.
Weaknesses
- Limited Geographic Presence: The company's operations are primarily concentrated in a specific region, which limits its potential for expansion and exposes it to local economic fluctuations and risks.
- Reliance on Interest Income: Heritage Financial Corp heavily relies on interest income, which makes it vulnerable to fluctuations in interest rates and economic conditions.
- Limited Brand Awareness: Compared to larger national competitors, Heritage Financial Corp has a relatively lower brand recognition, making it harder to attract new customers outside its current network.
Opportunities
- Expansion into New Markets: The company can explore opportunities to expand its presence into new geographic markets, which could help diversify its revenue streams and reduce concentration risk.
- Technological Advancements: Embracing new technologies and digital banking solutions can enhance operational efficiency and improve customer experience, attracting a younger customer base.
- Growth through Acquisitions: Heritage Financial Corp can consider strategic acquisitions or mergers with smaller financial institutions to expand its market share and customer base.
Threats
- Intense Competition: The financial industry is highly competitive, with both traditional banks and fintech companies vying for market share. This makes it challenging for Heritage Financial Corp to differentiate itself and attract new customers.
- Regulatory Environment: The company operates in a heavily regulated industry. Compliance with changing regulations can be costly and time-consuming, potentially impacting profitability.
- Economic Uncertainty: Fluctuations in the economy, including interest rates, inflation, and unemployment, can affect the company's financial performance and credit quality of its loan portfolio.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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